Crude oil prices are showing good price recovery and are surging for the 5th session in six. Crude oil price...
Coronavirus
On this page, you will find our latest news and analysis of the Coronavirus, and how it is affecting the world’s financial markets.
Special Article: Revisiting SARS and How the New Coronavirus Outbreak Can Affect Financial Markets
71,811
Total Confirmed
1,775
Total Deaths
11,364
Total Recovered
Coronavirus Map
In January 2019, news of a SARS-like coronavirus hit the newswires. It began in the Chinese province of Wuhan and is said to have come from animals. Its symptoms include a runny nose, cough, fever, and difficulty breathing. In more severe cases, it can lead to kidney failure and death. Officially the new virus is called 2019-nCoV, and it quickly infected over 800 people in less than two weeks. The death toll also rose from 3 to 25 in a matter of days. Countries outside of China soon began recording cases of the coronavirus from Japan, Thailand, South Korea, the US, and Australia.
To curb the spread of the disease, the Chinese government imposed a travel ban for the city of Wuhan. It was a bold move considering that Wuhan is a large city of 11 million people and is considered a significant transport hub. Soon after, eight more Chinese cities were limited from travel.
Consequently, the infection sparked public fears. It did not take long for that fear to affect financial markets. Among those adversely hit was the Hang Seng Index. The proximity of the financial hub to the epicenter took its toll on stocks in the retail, transportation, and property sectors. The Shanghai Composite Index initially benefitted from the news thanks to increased sales by pharmaceutical and mask-producing companies. However, risk aversion quickly caught on, and the Chinese stock index began trading lower.
On the other hand, safe-haven assets like gold and the Japanese yen saw increased demand as fears of the coronavirus mounted.
Latest News
It keeps getting worse for business with exposure to the aviation industry. General Electric (GE) has announced it plans to...
Boeing share price action seems to be having no respite at all as all we keep hearing these days about...
Comments from US President Trump and Secretary of State Mike Pompeo about China are spooking tech stocks and sending the Nasdaq 100 lower.
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Silver prices continue to remain stuck in a tight range as various data that showcase manufacturing and factory activity continue...
Crude oil price on the West Texas Intermediate benchmark has fallen 25% today. Get an insight into why crude oil prices keep falling and the trade opportunities presented by the latest price moves.
As the new week starts the DAX index and Dow Jones traders’ mood remains upbeat, as the growth rate of new coronavirus cases dropped further over the weekend, and the world is getting ready to open for business. The China PMI on Thursday will give us an idea of what lies ahead in western countries, while the ECB could boost risk-sentiment further if they announce that they will buy junk bonds at their Thursday Rate meeting. The Federal Reserve is also hosting a rate meeting, but the expectations are low. The ISM report, and US Q1 GDP report will also be published, but the reports are bound to be soft, as the US is still under lockdown. On Thursday the focus will also shift to Crude oil prices, as the weekly EIA report is published...
The planes are not flying and Boeing is not able to produce new parts, which is pulling on the durable goods orders data. Find out how Boeing's problems are affecting orders for durable goods in the US.
The Swiss Franc is under pressure this Thursday after the Swiss government released its latest forecasts which predict a contraction...